Ontario Commits Over $100 Billion to Nuclear Energy Amid Global Shift to Renewables
Ontario plans to invest over $73 billion in nuclear energy, with additional costs for two new plants potentially raising the total to over $100 billion. This move includes refurbishing existing reactors and constructing new ones, projected to triple nuclear generation.
Critics highlight risks of high costs and safety concerns, while proponents argue nuclear is essential for emissions-free power. The province's energy roadmap anticipates a 75% increase in power demand.
Ontario has halted renewable energy projects, which have become cheaper and faster to build. The nuclear industry, which contributes $22 billion annually to Canada's GDP, aims to create jobs and maintain energy security. However, the first small modular reactor (SMR) faces delays, with completion now expected by the end of the decade.
